Iata sounds alarm for global prosperity

AMID rising global trade tensions, the air cargo industry finds itself at a critical juncture, challenged to maintain the flow of goods that underpin economic prosperity. The International Air Transport Association (Iata) this week issued a clarion call for immediate action, emphasising that: “Current trade tensions are deeply concerning. Trade drives prosperity. The more the world trades, the better off we all are,” according to Brendan Sullivan, Iata’s global head of cargo, at the recently concluded 18th World Cargo Symposium (WCS) in Dubai. These tensions are also reshaping global credit conditions, as highlighted in a recent S&P Global Ratings report. “Trade tensions are threatening hitherto favourable credit conditions for most borrowers,” the report warned, citing the US government’s tariff announcements on April 2 and the escalating trade conflict with China.…